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Expedia Downgraded to “Neutral” at Piper Jaffray; Valuation Call Following Huge Run-Up (EXPE)

By Dividend.com,  June 19, 2012, 09:06:33 AM EDT

Online travel agency Expedia Inc. ( EXPE ) on Tuesday caught some bearish commentary from analysts at Piper Jaffray.

The firm said it cut its rating on EXPE from "Overweight" to "Neutral." Piper Jaffray noted the move was a valuation call, based on its $53 price target (Expedia closed at $49.96 on Monday).

Expedia shares, which have surged more than 72% year-to-date, fell 97 cents, or -1.9%, in premarket trading Tuesday.

The Bottom Line
Shares of Expedia ( EXPE ) have a .56% dividend yield, based on last night's closing stock price of $49.96. The stock has technical support in the $45 price area. If the shares can firm up, we see overhead resistance around the $55-$60 price levels.

Expedia Inc. ( EXPE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: EXPE



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